TechFlow, August 4 — According to Jinshi Data, former UK Chancellor of the Exchequer George Osborne has launched a fierce critique of the Labour government's approach to cryptocurrency, warning that Britain risks missing out on a financial revolution akin to the "big bang" reforms of the 1980s and falling behind global trends. Osborne, now a member of Coinbase's Global Advisory Board, said Chancellor Reeves and Bank of England Governor Bailey are placing the UK on a slow track. Osborne stated: "Rachel Reeves is right—we've all become too risk-averse. We became a global financial center because we weren't afraid of change." "On cryptocurrency and stablecoins, as with many other issues, the harsh reality is: we've been completely left behind. It's time to catch up." Osborne argued that blaming regulators for excessive caution is a "flimsy excuse," and urged Reeves to follow the example of the US Congress by legally establishing a crypto framework. He warned that regions including the United States, the European Union, Singapore, and Abu Dhabi are moving ahead of the UK.
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